Mentha Oil Prices Surge Amid Increased Overseas Demand

New Delhi, October 7, 2024 (Commoditiescontrol): Mentha oil prices experienced a notable rise on Monday, driven by improved demand from overseas markets. Following a recent dip in prices, exporters have shown renewed interest, contributing to the upward momentum.

In Chandausi market, mentha oil was quoted at Rs 982-984 per kg, reflecting an increase of Rs 4. Similarly, in Barabanki, prices rose by Rs 7 to reach Rs 937 per kg compared to last Friday’s rates.

On the Multi Commodity Exchange (MCX), the mentha oil futures contract for October delivery saw an uptick of Rs 8.7, closing at Rs 927.5 per kg, with an open interest of 570 and a trading volume of 165. For November delivery, the futures contract increased by Rs 6, settling at Rs 938 per kg, with an open interest of 221 and a volume of 9.

The rising prices indicate a positive shift in the mentha oil market, as demand from exporters continues to bolster trading activity.

Mentha Oil contract for OCT delivery settled at Rs 927.5/quintal showing an rise of Rs 8.7 over previous close of Rs 918.8/quintal,The contract moved in the range of Rs 913.6-927.8 for the day. Open interest decreased by -16 MT to 570 MT, while trading volume increased by 19 to 165 MT.

Mentha Oil contract for NOV delivery settled at Rs 938/quintal showing an rise of Rs 6 over previous close of Rs 932/quintal,The contract moved in the range of Rs 928.5-938 for the day. Open interest increased by 1 MT to 221 MT, while trading volume decreased by -12 to 9 MT.

Mentha Oil contract for DEC delivery settled at Rs 950/quintal showing an rise of Rs 10 over previous close of Rs 940/quintal,The contract moved in the range of Rs 945-950 for the day. Open interest increased by 1 MT to 3 MT, while trading volume increased by 2 to 3 MT.

Currently The spread between OCT and NOV contract is -10.5 Rs/quintal.

Currently The spread between NOV and DEC contract is -12 Rs/quintal.

Currently The spread between OCT and DEC contract is -22.5 Rs/quintal.

(By Commoditiescontrol Bureau: +91 9820130172)